Sale agreed in February, but still waiting!

[gebbel]

I went sale agreed on a 2 bed Apartment on the 12th February this year. As of today, I still have not signed the contracts. Everything else is ready to go i.e. mortgage, insurance etc. My solicitor said she was waiting for legal stuff from the vendors` solicitor. This apparently arrived to her 2 weeks ago. This week she is on holidays.

How long do these things take?? All the talk now of property prices crashing is making me wonder will I regret going ahead with this at all!! If this went through quicker, I could just get on with it! Any thoughts appreciated

 

[beattie]

All the talk now of property prices crashing is making me wonder will I regret going ahead with this at all!! If this went through quicker, I could just get on with it! Any thoughts appreciated

If you like the place and can afford repayments (adding in interest rate rises of 2%) then you should be ok. Do you know what other units are going for now? If they have dropped substantially you could then reevaluate your situation as the repayments will be unnecessarily high. You will have to do some homework and ring up EA's to find out.

 

[gebbel]

There are no other units for sale in the same development so I am unsure if a fall has been observed. As I write this, I have just received a call from my solicitor`s office that the contracts have come through and they only need the loan pack, whatever that is. I will ring EA today.

Fingers crossed in 1 years time I will not be in a negative equity situation!

 

[Hel_n]

I have just received a call from my solicitor`s office that the contracts have come through and they only need the loan pack, whatever that is. I will ring EA today.

I'm assuming they mean the loan pack/loan offer form your mortgage provider.